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Dollar Drops on Shutdown Worries

Dollar Drops on Shutdown Worries (Reuters)

As the U.S. government approached a possible shutdown as soon as next week, investors fled the dollar, leading the American currency to a 7-1/2-month low against the safer Swiss franc. “As this deadline approaches, investors are stepping up their sale of dollars on the growing concern that a government shutdown will undermine the quality of U.S. assets and lead to a retrenchment in U.S. growth,” said Kathy Lien, managing director at BK Asset Management in New York.

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